Huawei Denies Claims of Receiving Financial Assistance From Beijing
In response to the Wall Street Journal’s recent report alleging that Huawei has received a financial grant of nearly $75 billion from the Chinese government to “spend more freely”, the company has said that the WSJ article is completely false and that it has never received special treatment from Beijing, Engadget is reporting.
According to the publication, court documents have revealed that the Chinese government helped Huawei close a deal in Pakistan by offering the country’s government a $124.7 million loan through the Export-Import Bank of China.
The bank waived off most of the annual interest on the loan, while Pakistan skipped its usual competitive bidding process and awarded the contract to Huawei, noted the WSJ.
However, Huawei now says the report is untruthful and that it may take legal action against the publication for “a number of disingenuous and irresponsible articles.”
“Once again, the WSJ has published untruths about Huawei based on false information. This time, wild accusations about Huawei’s finances ignore our 30 years of dedicated investments in R&D that have driven innovation and the tech industry as a whole,” the company said.
In the past, Huawei has tried to refute suggestions that it has close ties with the Chinese government on multiple occasions.